Mt. Gox pushes deadline for BTC repayment registration to April News โธ Japan โธ Bitcoin โธ Bankruptcy
Mt. Gox pushes deadline for BTC repayment registration to April
Mt. Gox's base repayment period has also been extended from Sept. 30 to Oct. 31, according to the announcement.
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Updated: Mar. 9, 2023 at 9:05 am UTC
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Bankrupt Bitcoin exchangeย Mt. Gox has extended the registration deadline for its BTC repayment process from March 10 to April 6.
In a March 9 announcement, Mt. Gox trustee Nobuaki Kobayashi said the deadline was shifted after the exchange gained the court’s approval after considering “various circumstances such as the progress by rehabilitation creditors in respect of the Selection and Registration.”
Kobayashi added that creditors who cannot finish their registration by April 6 would not be able to receive the repayments.
Due to the extension of the registration period, the base repayment period has also been extended from Sept. 30 to Oct. 31.
In October 2022, the Japan-based exchange opened a registration portal for affected users to register their information and select a repayment method. Creditors can receive their payment via a lump-sum payment, bank remittance, crypto payment, or through a fund transfer service provider.
Meanwhile, one of the exchange’s biggest creditors, Mt. Gox Investment Fund, previously chose a repayment plan that would allow it to be paid in Bitcoin at the September deadline. Bloomberg reported that the creditor intends to hold the digital asset it would get at the repayment.
It was unclear if the new deadline would affect the Fund’s repayment process.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Mt. Gox
Mt Gox was a bitcoin exchange based in Shibuya, Tokyo, Japan that was launched in July 2010.